Once upon a time, there was a company called Shree Krishna Holiday Home and Farms limited, incorporated in 1995. It was engaged in the business of marketing, development and maintenance of farmhouses, holiday resorts and housing society. For the longest time, they did just this, albeit without the statutory approvals, licenses and registrations. For a small private entity, they did alright, at least according to the financials.

Despite modest financials, the company continued to battle along.

Then, in 2017, the company changed its name to Sungold Media and Entertainment Limited. With the name change, came changes in the objects of the company and it suddenly turned itself into an entertainment/marketing company. Today it states that its sole focus remains in creating a name for itself in the entertainment and the marketing industry. To this end, it has created a couple websites and it states that it helps its clients with full-fledged marketing solutions of various kinds. And that ladies and gentlemen is how you do it. In one sweeping move you're no longer developing farmhouses. You are now a media & entertainment company. The financials haven't changed much except for the fact that the Managing Director/CFO of the company now, is a young 26 year old who has previously worked as an Assistant Editor at Balaji Telefilms.

However, there was always trouble brewing in the air. In the past, some of the promoters were fined by SEBI for wrongful/non-disclosure of the extent of their shareholding in another company called Sungold Capital Limited. Here is an article from the Mint, describing that event "Sebi slaps Rs27 lakh fine on Sungold Capital, executive directors".

Then there are other problems, in that the company is going public through a pure offer for sale, meaning existing shareholders will sell some of their shares for money (Rs. 1.35 Crores) and none of the money raised will go back into the business. In addition, the company has advanced cash worth 4 Cr. as of FY 2018. It's quite odd that a company with such modest revenues and negative cash flows would loan out Rs. 4 Crores to another entity. Strange.

So, really there aren't a lot of positives here and as such we will end this story here. We wish the company the best of luck in its future endeavor

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